Positively Palermo received today an email with a copy of a postcard touting the fact that a Palermo two-bedroom condo has sold for $254,000 in one week's time. The post card says: "Prices are going up! Highest Palermo Sales Price in over 18 months." By our count, this actually is the highest price in at least two or three years. The reasons include the general market and supply for modern designed homes. But also our real estate sources tell us that the buzz around Palermo is great because of the sale of the bank-owned "developer" units to a private company, a handsome financial and property settlement the HOA got from the bank to make way for that sale, a switch in management company and other service providers, a solid and unprecedented turnout of support for the board leadership in the ill-fated recall this summer, and the spirit of neighborliness and concern that is being shown here and on the Palermo 92262 page on Facebook. Palermo is the place to be. Miss Penny Lane says: Cheers to all who helped in this road to raising our property values and building our community along the path as well.
9 comments:
Good news folks!
Life is good at Palermo these days. Bravo!
Miss Penny Lane, Scott Lyle should hire you as Palermo's Promotional Glamour Girl! Thanks for always believing in our little Gem.
I was very worried that that recall was going to hurt our community and tear us apart but the show of kindness and support for the board showed a solidarity and connection among the among owners and renters and ended out showing that our community is a happy place with a bright future. We would like to thank the board members for their hard work over the years, and the improvements/changes made this year that are really paying off in the community and in these sale prices. The no increase in HOA fees was important to us.
Good news indeed.
Never underestimate the importance of good solid management in home/condo prices, and also reputation. Palermo has a reputation as a very social and "fun" complex. I was out the other nite and a guy at our table when he heard I lived at Palermo said to talk about how he had heard about the how tight knit the community here is; you need to keep in mind that this is not truly the case ay the majority of complexes in Palm Springs. I believe it has to do with type of people attracted to this style of design, the location, and also the work (effort) of some residents to connect through this site and the Palermo 92262 Facebook site too.
Palermo is such a friendly place!
I'm very glad it sold but Scott Lyle is stretching the truth a bit with this post card. That unit was listed over a month ago.
One week wasn't accurate but glad it was sold! Things are really looking up.
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